Private Advisor Group LLC raised its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 567,617 shares of the iPhone maker’s stock after buying an additional 4,013 shares during the period. Apple comprises approximately 2.2% of Private Advisor Group LLC’s portfolio, making the stock its 3rd largest position. Private Advisor Group LLC’s holdings in Apple were worth $67,825,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bailard Inc. boosted its position in Apple by 23.2% in the third quarter. Bailard Inc. now owns 181,502 shares of the iPhone maker’s stock worth $20,519,000 after buying an additional 34,162 shares in the last quarter. LGT Capital Partners LTD. boosted its position in Apple by 10.4% in the third quarter. LGT Capital Partners LTD. now owns 140,020 shares of the iPhone maker’s stock worth $15,829,000 after buying an additional 13,140 shares during the period. Stanford Investment Group Inc. boosted its position in Apple by 25.9% in the fourth quarter. Stanford Investment Group Inc. now owns 98,014 shares of the iPhone maker’s stock worth $11,352,000 after buying an additional 20,176 shares during the period. CFO4Life L.P. boosted its position in Apple by 3.3% in the third quarter. CFO4Life L.P. now owns 21,036 shares of the iPhone maker’s stock worth $2,378,000 after buying an additional 670 shares during the period. Finally, Woodstock Corp boosted its position in Apple by 2.4% in the third quarter. Woodstock Corp now owns 62,122 shares of the iPhone maker’s stock worth $7,023,000 after buying an additional 1,440 shares during the period. Hedge funds and other institutional investors own 58.76% of the company’s stock.
Shares of Apple Inc. (NASDAQ:AAPL) opened at 141.46 on Tuesday. The stock’s 50 day moving average is $134.83 and its 200 day moving average is $119.06. The firm has a market cap of $742.18 billion, a P/E ratio of 16.98 and a beta of 1.26. Apple Inc. has a 52 week low of $89.47 and a 52 week high of $141.50.
Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, January 31st. The iPhone maker reported $3.36 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.14. Apple had a net margin of 20.73% and a return on equity of 34.94%. The business earned $78.35 billion during the quarter, compared to the consensus estimate of $77.37 billion. During the same quarter in the prior year, the firm earned $3.28 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post $8.94 earnings per share for the current fiscal year.
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AAPL has been the topic of a number of research reports. Oppenheimer Holdings Inc. restated a “” rating on shares of Apple in a research note on Wednesday, February 22nd. Cowen and Company upped their price target on Apple to $155.00 in a research note on Monday. Drexel Hamilton restated a “buy” rating and set a $185.00 price target on shares of Apple in a research note on Sunday, November 27th. Nomura restated a “buy” rating and set a $135.00 price target on shares of Apple in a research note on Tuesday, December 6th. Finally, Instinet restated a “buy” rating and set a $135.00 price target on shares of Apple in a research note on Monday, December 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. Apple presently has an average rating of “Buy” and a consensus price target of $140.24.
In related news, SVP D Bruce Sewell sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $128.43, for a total transaction of $9,632,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Luca Maestri sold 2,300 shares of the business’s stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $117.67, for a total transaction of $270,641.00. Following the sale, the insider now directly owns 4,632 shares of the company’s stock, valued at approximately $545,047.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 403,844 shares of company stock valued at $51,434,527. Insiders own 0.08% of the company’s stock.
Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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